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Imperfect information, lagged labor adjustment and the great moderation

Willems, Tim; Wijnbergen, Sweder van - 2012

This paper first documents the increase in the time lag with which labor input reacts to output fluctuations (the labor adjustment lag) that is visible in US data since the mid-1980s. We show that a lagged labor adjustment response is optimal in a setting where there is uncertainty about the...

Persistent link: https://www.econbiz.de/10011378349

Imperfect Information, Lagged Labor Adjustment and the Great Moderation

Willems, Tim - 2012

This paper first documents the increase in the time lag with which labor input reacts to the economy's driving structural shocks ("the labor adjustment lag") that is visible in US data since the mid-1980s. We show that lagged labor adjustment is optimal in a setting where there is uncertainty...

Persistent link: https://www.econbiz.de/10013116929

Inventory behavior with permanent sales shocks

Maccini, Louis J.; Moore, Bartholomew John; Schaller, … - In: Journal of economic dynamics & control 53 (2015), pp. 290-313

Persistent link: https://www.econbiz.de/10011526965

Monetary policy and the role of inventory investment

Rubio, Margarita; Schuh, Scott - In: Applied economics letters 24 (2017) 21, pp. 1605-1612

Persistent link: https://www.econbiz.de/10011853565

A New Approach for the General Equilibrium Analysis. Increase of the Production and Employment with Monetary and Fiscal Boosts

Nomidis, Dimitrios - 2014

:After a monetary or fiscal expansion there will always be a temporary increase in the production and employment, even if … be not only a temporary short-term increase in the production and employment, but furthermore a permanent long-term one … fixed long-term production reflecting a fixed full employment level underlies the conventional theory, unless a long …

Persistent link: https://www.econbiz.de/10013053400

Risk-Taking, Capital Allocation and Optimal Monetary Policy

David, Joel Michael; Zeke, David - 2021

We study the role of firm heterogeneity in affecting business cycle dynamics and optimal stabilization policy. Firms differ in their degree of cyclicality, and hence, exposure to aggregate risk, leading to firm-specific risk premia that influence resource allocations. The heterogeneous firm...

Persistent link: https://www.econbiz.de/10013251194

Risk-taking, capital allocation and optimal monetary policy

David, Joel M.; Zeke, David - 2021

Persistent link: https://www.econbiz.de/10012415672

Risk-Taking, Capital Allocation and Optimal Monetary Policy

-; Zeke, David - 2021

Persistent link: https://www.econbiz.de/10014031130

How Do Firms Respond to Hiring Difficulties? Evidence from the Federal Reserve Banks' Small Business Credit Survey

De Zeeuw, Mels - 2020

Using data from the Federal Reserve Banks' 2017 Small Business Credit Survey (SBCS), this paper investigates the various ways in which different types of firms with less than 500 employees experience and address hiring difficulties, including when they decide to increase compensation. {{p}} The...

Persistent link: https://www.econbiz.de/10012851545

Fixed wage contracts and monetary non-neutrality

Björklund, Maria; Carlsson, Mikael; Nordström Skans, Oskar - 2016

We study the importance of wage rigidities for the monetary policy transmission mechanism. Using uniquely rich micro data on Swedish wage negotiations, we isolate periods when the labor market is covered by fixed wage contracts. Importantly, negotiations are coordinated in time but their...

Persistent link: https://www.econbiz.de/10011542480

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